Billtrust to Hold Special Shareholder Meeting on Proposed Acquisition by EQT Private Equity

BTRS Holdings ("Billtrust" or the "Company") (NASDAQ–BTRS) is pleased to announce that it has set the date for the special shareholder meeting to consider and vote on the proposal to adopt the merger agreement in connection with the proposed acquisition of the Company by EQT X Fund (“EQT Private Equity”). The special meeting will be held on December 13, 2022, for Billtrust shareholders of record at the close of business on November 4, 2022.

About the Transaction

On September 28, 2022, the Company announced that it entered into a definitive agreement to be acquired by EQT Private Equity, a leading global investment organization, in an all-cash transaction valuing Billtrust’s equity at approximately $1.7 billion. Under the terms of the agreement, Billtrust shareholders will receive $9.50 per share in cash upon the closing of the transaction. The price per share represents more than a 64 percent premium above the closing share price of $5.77 on September 27, 2022, and more than a 76 percent premium above the trailing 90-day volume weighted average stock price for the period ended September 27, 2022.

The transaction, which was approved by the Billtrust Board of Directors, is expected to close in the fourth quarter of 2022, subject to customary closing conditions, including approval by Billtrust shareholders and receipt of applicable regulatory approval.

Upon completion of the transaction, Billtrust’s shares will no longer trade on the NASDAQ, and Billtrust will become a private company.

About Billtrust

Billtrust is a leading provider of cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. Accounts receivable is broken and relies on conventional processes that are outdated, inefficient, manual and largely paper based. Billtrust is at the forefront of the digital transformation of AR, providing mission-critical solutions that span credit decisioning and monitoring, online ordering, invoice delivery, payments and remittance capture, invoicing, cash application and collections. For more information, visit Billtrust.com.

About EQT

EQT is a purpose-driven global investment organization with EUR 77 billion in assets under management as of 30 June 2022, across 36 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 280,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. More info: www.eqtgroup.com. Follow EQT on LinkedIn, Twitter, YouTube and Instagram.